Equipment Finance Industry maintains heightened confidence
The Equipment Leasing & Finance Foundation(the Foundation) today released its September 2025 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), revealing it was relatively unchanged at 59.9 in September from 60.2 in August.
September 2025 survey results:
- Business conditions – When assessing the next four months, 30.4% of responding executives believe business conditions will improve (up from 26.9% in August). The majority (52.2%) believe business conditions will remain the same (down from 69.2% in August) and 17.4% believe business conditions will worsen (up sharply from 3.9% in August).
- Capex demand – For the next four months, 39.1% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase (up from 26.9% in August). Additionally, 39.1% expect demand to remain the same (down from 61.5%), and 21.7% believe demand will decline (up from 11.5% in August).
- Access to capital – Over the next four months, 21.7% of respondents expect greater access to capital to fund equipment acquisitions, an increase from 11.5% in August. The majority (78.3%) anticipate the same access to capital to fund business, down from 88.5% the previous month. None expect less access to capital, unchanged from August.
- Employment – Regarding employment over the next four months, 36.4% of executives expect to hire more employees, a decrease from 42.3% in August. Also, 54.6% foresee no change in headcount (down from 57.7% last month), and 9.1% expect to hire fewer employees, up from none in August.
- U.S. economy – Of the respondents, 8.7% evaluate the current U.S. economy as excellent, up from none in August; 91.3% assess it as fair, down from 100% last month; and none evaluate it as poor (unchanged from August).
- Economic outlook – Over the next six months, 39.1% of respondents believe that U.S. economic conditions will get better, an increase from 23.1% in August. In a sharp decline, 30.4% expect the U.S. economy to stay the same (down from 65.4%), and 30.4% also believe economic conditions will worsen, an increase from 11.5% last month.
- Business development spending – Over the next six months, 34.8% of respondents believe their company will increase spending on business development activities, up from 30.8% in August. Those who believe there will be “no change” in business development spending declined to 65.2% (from 69.2% in August), and none believe there will be a decrease in spending (unchanged from last month).
September 2025 MCI-EFI survey comments from industry executive leadership
Independent, small ticket
“By the time this goes to print, we believe that the Fed will have reduced rates by 0.25%, which will be added incentive along with typically heavier Q4 purchases to drive demand higher by year end.” -- Daryn Lecy, CLFP, COO, Oakmont Capital Services.
“Many small and mid-sized businesses have yet to experience any meaningful uptick in business opportunities. There are some pockets around the country experiencing improvement, but far from being spread around widely.” -- James D. Jenks, CEO, Global Finance and Leasing Services, LLC
Independent, middle ticket
“Competing economic forces and political strategy collide to create an unusual operating environment. Some will freeze and some will take market share.” -- Jeffry Elliott, CEO, Elevex Capital and Equipment Leasing & Finance Association treasurer
To access more details and read the full survey results, visit the MCI-EFI web page.
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